Question 1

What is a DSCR loan in Cerritos?

Accepted Answer

A DSCR loan qualifies you based on your rental property's income, not your personal income. The property rent must cover the mortgage payment and related expenses.

Question 2

Do I need tax returns for a DSCR loan?

Accepted Answer

No, DSCR loans do not require tax returns or W-2s. Lenders use the property's current or projected rent to determine loan eligibility.

Question 3

What credit score do I need for Cerritos DSCR financing?

Accepted Answer

Most DSCR lenders require minimum credit scores of 620 to 640. Higher scores above 680 qualify for better rates and terms.

Question 4

Can I use a DSCR loan for a Cerritos multi-family property?

Accepted Answer

Yes, DSCR loans work for single-family homes, condos, and multi-unit properties up to four units. Each property type has specific qualification guidelines.

Question 5

How much down payment do DSCR loans require in Cerritos?

Accepted Answer

Expect to put down 20% to 25% for most DSCR loans. Exact requirements depend on the property type, your credit score, and the DSCR ratio.

DSCR Loans in Cerritos: Financing Investment Properties Based on Rental Income